World Bank experts examine Belarusian companies to be privatized

Experts of the World Bank have visited 13 Belarusian open joint-stock companies, which are earmarked for privatization, Natalia Zhernosek, Director of the State Property Fund of the State Property Committee of Belarus, told media on 7 April.

The official reminded that the pilot project to sell shares of five companies in 2010 was not carried out. The World Bank believed that the deals could not succeed. This year the World Bank and the State Property Committee decided to invite international financial advisors and go ahead with new pilot projects. Simultaneously the provision of $5 million by the Austrian Trust Fund to Belarus for the sake of carrying out these projects was decided upon.

World Bank experts were offered to choose from three enterprises. Barhim, Brest Electromechanical Plant, and Belsantekhmontazh were chosen. The experts were also allowed to choose from the list of enterprises to be privatized in 2011-2013. The World Bank experts visited 13 open joint-stock companies, got familiar with their operation and management. In particular, they visited the Radoshkovichi ceramic factory, the Beloozersk electromechanical plant, the Minsk margarine factory, Belgazstroi, Promsvyaz. So far there is no information what enterprises will be picked out for the pilot projects. The experts took a timeout to report the results and the final choices to their superiors.

Natalia Zhernosek also said that the National Agency for Investments and Privatization will take care of attracting and spending money of the Austrian Trust Fund in Belarus. The establishment of the agency is about to complete. The President of Belarus is expected to sign the final version of the decree to establish the agency one of these days.

Thus the pilot privatization projects will be carried out by the National Agency for Investments and Privatization with assistance of international financial advisors and the State Property Committee.

According to